Taxation in Libya

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Italian tax police have seized $1.6 billion of assets belonging to members of the Gaddafi family, including stakes in top Italian companies, bank deposits and a Harley Davidson, at the request of the International Criminal Court.

France is investigating a Lebanese businessman on suspicion of money laundering after he landed at a Paris airport with €1.5 million, saying the money was to promote the image of Moammar Gadhafi.

Libyan state TV announces wide-ranging tax cuts. It says: The general public committee has decided to reduce customs on basic commodities to zero per cent and to reduce customs on all other commodities to only five per cent.

Libya has canceled the tax to enter the territories which was imposed on Algerian during the past two years and which is estimated at 150 euros for each citizen wishing to enter Libya and 100 euros for each vehicle.

Austrian prosecutors are probing whether far-right leader Joerg Haider siphoned off millions from Croatian real estate deals and ran a secret election warchest with Libyan money, a report said Sunday.

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